USA, the world’s 4th largest steel producer has surged in its Finish long steel imports by 21% in Mar’18. However, it seems that the steel imports may report downward trend for prospective term in the nation after getting announced by Trump government in the first week of March 2018 to impose import tariffs of 25% on steel & 10% on aluminium with an effective on 23rd Mar’18.
As per custom, the nation has imported about 350,000 MT Finish Long steel in March 2018 against 290,000 MT in February 2018, which has been registered growth by 20.68% on monthly premises. On the contrary Y-o-Y, imports were down more than 36% against 550,000 MT in Mar’17.
During March 2018, Bar’s & Rods (HS Code – 7213 & 7214) have contributed the major proportionate and registered 210,000 MT with 60% & up by 40% M-o-M basis followed by Angle and Shapes (HS Code – 7215 & 7216) 90,000 MT and MS Wire Rod (HS Code – 7217) 50,000 MT and both commodities has been firm and no change on monthly basis excluding Pipes and Tubes.
As per the SteelMint’s assessment in March 2018, the crude steel production of the USA was around 7.26 MnT enlarged by 12.55% against February 2018 with 6.45 MnT.
On the other hand ferrous scrap exports slightly fall by around 1% M-o-M to 1.46 MnT in March 2018 against 1.47 MnT in Feb’18.
Country wise:
In the month of March 2018, the largest exporter of Finish Long Steel to USA was Canada – 70,000 MT followed by Turkey at 70,000 MT which has been noticed with extreme gain by around 250% & Mexico remained same 50,000 MT M-o-M basis.
Key Updates
1. The reference index price for US origin HMS (80:20) scrap stood around USD 360/MT, CFR Turkey as per last assessment.
2. The US implemented a 25% tariff on steel imports from 23rd March 2018. The US has reached agreements in principle with Argentina, Australia and Brazil that will exempt those countries. Temporary exemptions given to Canada, Mexico and the EU have been extended through June 1.
Top Load Country (Jan to Mar 2018)
| Countries | Quantity | % Share |
| Canada | 0.2 | 21.82 |
| Turkey | 0.15 | 15.94 |
| Mexico | 0.15 | 15.52 |
| Brazil | 0.07 | 7.77 |
| Germany | 0.05 | 5.78 |
| South Korea | 0.05 | 5.31 |
| Japan | 0.04 | 4.38 |
| China | 0.03 | 3.39 |
| Luxembourg | 0.02 | 2.61 |
| Qatar | 0.02 | 2.22 |
| Taiwan | 0.02 | 1.94 |
| Others | 0.12 | 13.33 |
| Grand Total | 0.94 | 100 |
Quantity in MnT
Source-SteelMint Stats, Custom.
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